Effective Bid Management Tools
October 16, 2009
Thinking of investing in a Bid Management Tool? Below are some questions that helped us understand which tools to use over the past couple of years:
- Does the bid management tool work with at least 3 major search engines Google AdWords, Yahoo Search Marketing (Overture), & MSN AdCenter?
- What is its functionality with Tier 2 Engines?
Business Goal Settings
- Does the bid management tool allow you to set Return on Ad Spend (ROAS) Goals?
- Does the bid management tool allow you to set Cost Per Acquisition (CPA) Goals?
- Does the bid management tool allow you to set Return on Investment (ROI) Goals?
Bid Management & Optimization
- Does the bid management tool optimize keyword level PPC bids?
- Is the bid management tool capable of optimizing PPC bids based on day parting?
- Can the bid management tool adjust PPC bids based on position?
- Will you be able to preview bid changes before the Max. CPCs are live?
- Is the bid management tool able to forecast your PPC account’s performance based on its historical data and suggested changes?
- Can it manage and optimize PPC bids for your Content Distribution accounts?
Keyword Research & Functionality
- Besides managing PPC bids is the tool capable of doing new keyword research and deveopment?
- Can you research the competitve landscape?
- How does it optimize poorly performing keywords and when is a keyword termed poorly performing?
- Can the tool make ad copy suggestions?
- If you are bidding at the ad group level, can the tool identify poorly performing creative/ad Copy and make suggestions?
- Does it work only with Conversion Counter from Search Engines?
- Or does it require you to place their conversion pixel and then upload conversion, & other performance data?
- Does it allow you to view Transaction History/Audit Trail?
- How far back can the reports go? 1 Year? 6 months?
- Is it capable of managing millions of keywords per account?
- What does the tool consider to be statistical sufficient data set to make effective bid management decissions?
- Does it require only a handful of conversions or is it data intensive and requires a lot of data before it can make effective bid management suggestions?
- Does it syncs with Search Engine accounts automatically and often – allowing the user to make changes through Search Engine UI as well?
- Can you roll back changes made?
Start Up Considerations
- Do you need to change existing URLs or other Tracking features?
- What is the time frame needed to sync your PPC accounts with the bid management tool?
- Are you required to use your own API or would you be using the bid management tool’s API?
- What is the average time you can expect for the bid management tool to start showing results in?
- Any other business considerations based on your business model
Pricing & Contract Structure
- Do they charge Per Month?
- Or do they charge a percentage of Online Spend?
- What are the Additional API Charges?
- Is it Month to Month?
- Or is it a termed Contract?